Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: I fear this is getting to be a bit like watching paint dry. World freight markets have not moved much at all in value in the last three-to-four weeks. As far as the market goes we are simply sailing around in circles.
I will have to find something creative to write about if nothing changes next week. But, for now, the market is steady and remains at low rates that should be attractive to grain buyers around the globe. The market badly needs more cargo demand.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to South China:
The charts below represent January-December 2014 annual totals versus year-to-date 2015 container shipments to Japan.
